Standard s Downgrades Puerto Rico

TODAY: July 12, 2014 PUB DATE: July 12, 2014

By Josh Beckerman Standard & Poor's Ratings Services on Friday lowered its general obligation rating for Puerto Rico one notch to BB--two notches into junk status--from BB+. The ratings firm said, although it views the recent enactment of a fiscal ...

Fed's Lockhart Still Sees Fed Rate Increase Some Time in 2015

TODAY: July 12, 2014 PUB DATE: July 12, 2014

By Michael S. Derby JACKSON HOLE, Wyo.--Federal Reserve Bank of Atlanta President Dennis Lockhart said Friday he still believes the most likely timing for the central bank to raise interest rates lies well into next year. "I'm sticking to the ...

Standard s Downgrades Puerto Rico -- Update

TODAY: July 12, 2014 PUB DATE: July 12, 2014

By Josh Beckerman Standard & Poor's Ratings Services has lowered its general obligation rating for Puerto Rico one notch, to BB--two notches into junk status--from BB+, one of several reactions by rating firms to new legislation that allows the overhaul ...

Canadian Dollar Plunges on Disappointing Jobs Report

TODAY: July 12, 2014 PUB DATE: July 12, 2014

By Nirmala Menon and James Ramage The Canadian dollar tumbled Friday after disappointing numbers for jobs and unemployment suggest the country's central bank would leave interest rates unchanged at its policy meeting next week. The greenback gained 0.8% versus the ...

Lawmakers Move to Replenish Highway Trust Fund-- Update

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Siobhan Hughes WASHINGTON--House and Senate lawmakers Thursday advanced measures to replenish the federal fund that finances road, bridge and mass-transit projects before it runs out of money next month. The HouseWays and Means Committee, in a voice vote, approved ...

French Current Account Deficit Widens

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Stacy Meichtry PARIS--France's current account deficit was wider in May than in April as the goods deficit rose and the services surplus shrank, data from the Bank of France showed Friday. The euro zone's second largest economy recorded a ...

BOE Considers Stricter Leverage Limits For UK Banks

TODAY: July 12, 2014 PUB DATE: July 11, 2014

LONDON--Britain's biggest banks could be subject to stricter leverage limits under proposals put forward Friday by the Bank of England. The BOE said in a consultation paper on leverage that its Financial Policy Committee, which spots risks to the financial ...

Iraq's Kurdish Fighters Seize Oil Fields

TODAY: July 12, 2014 PUB DATE: July 11, 2014

LONDON--Iraq's Oil Ministry said Friday Kurdish Peshmerga forces had seized control of production facilities at two key oil fields near the northern city of Kirkuk, in a move that could further worsen already frayed relations between the Kurdistan Regional Government ...

Central Bank Says Australian Dollar Overvalued - Report

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Jason Douglas Investors may be underestimating the risk of a "material decline" in the Australian dollar, the governor of Australia's central bank was quoted as saying Friday. "It continues to be my view that on most standard metrics that ...

U.S. Budget Deficit Narrows

TODAY: July 12, 2014 PUB DATE: July 11, 2014

WASHINGTON--The U.S. budget deficit is falling sharply this year amid higher tax revenues and an improving economy. The federal government's deficit from October through June totaled $366 billion, down 28% from the same period a year earlier, the U.S. Treasury ...

EU, Russia, Ukraine to Continue Talks on Trade Deal Into September

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Matthew Dalton BRUSSELS--Months of talks aimed at easing Russian fears about a new political and economic deal between the European Union and Ukraine will continue into September, representatives of the three parties agreed Friday. The discussions come as EU ...

Australia Mortgage Data Ease Fears of Reversal in Property Market

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By David Rogers SYDNEY--The latest Australian mortgage data are easing fears of a sharp downturn in the property market that could derail the central bank's attempts to stoke the economy to previous growth levels. Government statistics published Friday showed the ...

Germany's Upper House Passes Energy Law

TODAY: July 12, 2014 PUB DATE: July 11, 2014

BERLIN--Germany's upper house of parliament Friday passed an ambitious renewable energy law which aims to mitigate the effects of the country's move away from nuclear and fossil-fuel generated power. The upper house, which represents Germany's 16 states and which could ...

Mexican Industrial Output Rose in May, Thanks to Manufacturing

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Anthony Harrup MEXICO CITY--Mexican industrial production rose in May for a fifth consecutive month, led by gains in manufacturing that continued to be the main driver of economic growth in the second quarter. Industrial output rose 0.11% from April ...

Australian Mortgage Lending Unchanged in May

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By David Rogers SYDNEY--The number of Australian home-loan approvals was unchanged in May from April, the statistics bureau said Friday. Housing finance approvals were mixed across Australia's various states. Economists surveyed ahead of the announcement had expected a fall of ...

DATA SNAP: Canada Sheds 9,400 Jobs, Unemployment Rate Rises to 7.1%

TODAY: July 12, 2014 PUB DATE: July 11, 2014

June Employment Report =-----------------------------------------=--=--=--=--=--== June May ! Consensus: ! Net Jobs -9,400 +25,800 ! +20,000 jobs ! Unemployment Rate 7.1% 7.0% !Jobless Rate ! ! 7.0% ! - Full-Time Jobs +33,500 -29,100 !Actual:-9,400 ! - Part-Time Jobs -43,000 +54,900 !Jobless ...

U.S. Oil Prices at Lowest in Nearly Two Months

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Daniel Huang U.S. oil prices fell to their lowest in almost two months on Friday as signs of abundant supplies spurred investors to resume selling. Light, sweet crude for August delivery fell $2.10, or 2%, to $100.83 a barrel, ...

CURRENCIES: Loonie Drops On Weak Canada Jobs Data

TODAY: July 12, 2014 PUB DATE: July 11, 2014

By Joseph Adinolfi, MarketWatch NEW YORK (MarketWatch) -- The loonie came under pressure Friday following a weaker-than-expected Canadian jobs report. In June Canada lost 9,000 jobs, falling far short of the expected 20,000 increase. The country's unemployment rate rose to ...

Spain Confirms Inflation Flat In June, Deflation Still A Risk

TODAY: July 12, 2014 PUB DATE: July 11, 2014

MADRID--Spain's statistics institute INE said Friday that the country's inflation rate flat-lined in June. The reading is in line with a flash estimate released late last week. The country's European Union-harmonized consumer price index was unchanged in June, INE said, ...